Highbridge Multi-Strategy Fd Ltd £ Net Asset Value(s) (7718L)
October 05 2016 - 6:49AM
UK Regulatory
TIDMHMSF
RNS Number : 7718L
Highbridge Multi-Strategy Fd Ltd £
05 October 2016
HIGHBRIDGE MULTI-STRATEGY FUND LIMITED (the "Company")
ESTIMATED NET ASSET VALUE ("NAV") OF SHARES
The estimated NAV is calculated as at the close of business on
Friday 30 September 2016 the "VP", being the valuation point:
Ordinary Shares NAV
Sterling Shares GBP 2.0861
ISIN: GB00B13YVW48
This estimated NAV has been calculated on the assets and
liabilities within the Company as at the VP having regard to (i)
the cash and near cash items held and (ii) the estimated net asset
value of Shares in Highbridge Multi-Strategy Fund (as provided by
Highbridge Capital Management) (iii) the estimated net asset value
of Shares in AllBlue Limited (AB) and AllBlue Leveraged Feeder
Limited (ABL) (as provided by BlueCrest Capital Management Limited)
duly amended using a discounted cashflow methodology based on the
12 month interbank swap rate for the relevant currency on a day
count basis so as to reflect the anticipated pay-out of redemption
proceeds by both AB and ABL. However, the exact timings and amounts
of these cashflows are not known with certainty.
The administrator to AB and ABL has informed the Company that it
will now provide AB and ABL net asset values on a monthly rather
than weekly basis. Accordingly the NAV for the Company as presented
above has been prepared on the basis of a monthly estimated NAV for
Highbridge Multi-Strategy Fund as at the end of September 2016 and
a monthly confirmed NAV for AB and ABL as at the end of August
2016.
At the request of shareholders and the Board, the Administrator
has prepared the below table providing further information about
the approximate asset exposure of both continuing shareholders
("Continuing shareholders") in the Company and also the asset
exposure for those former shareholders who participated in the cash
exit opportunity in February 2016 and remain creditors of the
Company ("Exited shareholders").
Continuing shareholders
------------ ------------------------
Cash 6%
------------- ------------------------
AB and ABL 6%
------------- ------------------------
Highbridge 88%
------------- ------------------------
Exited shareholders
------------- --------------------
Cash 6%
-------------- --------------------
AB and ABL 6%
-------------- --------------------
Distributed 88%
-------------- --------------------
The above estimated NAV of Sterling Shares has been calculated
using information which, whilst being received from a reliable
source, is itself 'estimated' and accordingly the Company accepts
no responsibility for the accuracy of the estimated NAV figures
given, and neither is any responsibility implied. This estimated
NAV is provided for indication purposes only.
Note: The Company is a closed-ended investment company
registered and incorporated in Guernsey. The Shares of the Company
are admitted to the Official List and to trading on the main market
of the London Stock Exchange.
Note: Your attention is drawn to the Company's announcement of
the results of its EGM on 24 February 2016 and all subsequent
announcements concerning the redemption of shares and change of
investment policy. Investors should be aware that the amount
payable on a return of capital, whether on a winding-up of the
Company or otherwise, may differ materially from this
valuation.
5 October 2016
For further information about this announcement contact:
JTC (Guernsey) Limited
Secretary
Tel: 01481 702 400
E&OE - in transmission
This information is provided by RNS
The company news service from the London Stock Exchange
END
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